Despite ongoing general elections, the primary market is thriving, showing strong responses to recent IPO launches. This momentum is expected to continue next week, even amidst market uncertainties.
Next week, Kronox Lab Sciences will launch its IPO in the mainboard segment, aiming to raise Rs 130 crore. Simultaneously, Sattrix Information Security will debut its IPO in the SME segment.
Alongside the two new IPOs, six companies are set to list on the stock exchanges next week, adding to the market’s activity.
Looking forward, analysts anticipate a surge in IPOs from both new and traditional sectors post-elections. Factors contributing to this optimism include increased domestic capital, improved governance practices, and supportive government policies like FDI.
Here’s what’s happening in the IPO market next week:
Kronox Lab Sciences IPO:
- Dates: Subscription opens on June 3 and closes on June 5.
- Price Band: Rs 129-136 per share, with a lot size of 110 shares.
- Offer Type: Entirely an offer for sale of 95.7 lakh shares, aiming to raise Rs 130 crore.
- Allocation: 50% for qualified institutional buyers, 15% for non-institutional investors, and 35% for retail investors.
- About Kronox: A manufacturer of specialty fine chemicals used in various industries.
- Financials: Debt-free business with consistent profit margins and revenue growth.
- Lead Managers: Pantomath Capital Advisors (book running) and Kfin Technologies (registrar).
Sattrix Information Security IPO:
- Dates: Subscription from June 5 to June 7.
- Price: Rs 121 per share, with 18 lakh fresh equity shares on offer.
- Business: Provides cybersecurity solutions tailored to customer needs.
- Lead Managers: Isk Advisors (book running) and Bigshare Services (registrar).
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